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John Symond’s commentary: April RBA Rate Announcement

The Reserve Bank has held the cash rate at 1.5 per cent in April in the midst of improved economic conditions in Australia and overseas.

The bank has made the decision to hold its monetary policy as economic growth and the inflation rate are both within its target range.

Commodity prices continue to grow and employment numbers are still strong, while the housing market remains buoyant across most of Australia.

I believe the RBA will continue to hold rates for some time, however some lenders are breaking ranks and lifting their rates, so borrowers should be aware and speak to their broker if their home loan interest rate changes.

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About John Symond

John Symond is the Founder and Executive Chairman of Aussie. Widely credited with bringing competition to the Australian home lending industry, John forced the banks to drop their mortgage interest rates and lift their service levels. He is well known as a consumer champion, and is passionate about helping all Australians to achieve the dream of home ownership and be in a better financial position.

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